InhaleRx Limited (ASX: IRX), a company focused on developing registrable inhaled drug-device combinations that aim to bring fast, safe and effective relief to suffers of pain and anxiety related illnesses, has announced its half-year results for the period ended 30 June 2025. The company reported a loss from ordinary activities after tax of $854,332, a 15.8% increase from the $737,576 loss reported in the corresponding period of the previous year. No dividends were paid, recommended, or declared during the current financial period.
The increased loss reflects the company’s continued investment in its key development programs. Expenditure on these programs totalled $1,006,114 for the half-year, compared to $186,363 in 2024. InhaleRx received $489,526 in Research & Development Tax Incentives payments during the period related to the 2023 and 2024 years. The company continues to progress its IRX211 Breakthrough Cancer Pain Treatment, having received ethics approval for an updated trial design and commenced manufacturing of trial drugs, targeting ‘First Patient in’ by the end of September 2025.
InhaleRx also made progress with its IRX616a Panic Disorder Treatment, entering into a Study Order with its CRO partner and appointing a clinical site for the planned Phase 1 clinical trial. Manufacturing specification of the trial drug was completed, with manufacturing to commence following HREC approval. The company’s $38.5 million funding facility with Clendon Biotech Capital, secured in October 2024, is intended to cover clinical trial costs for its IRX-211 and IRX-616a drug development plans through to the completion of Phase 2 clinical trials.
In terms of net tangible assets, the company reported a value of (0.41) cents per ordinary security, compared to (0.03) cents in the previous period. The financial statements were subject to a review by the auditors, with the review report attached to the Interim Report.
